> if you can't see that there is something different about the current market space we are in now vs the one in the 70s/80s I don't know what to tell you other than to read more or talk to people who lived through it.

A company I worked for in the 1980s went through some financial hard times, and they instituted an across-the-board 10% pay cut. One of the engineers there was furious about it, and we talked about it. He said how mean, cruel, and unfair it was. I suggested if he felt that way, he should quit and work elsewhere. He was angry at me for that suggestion, saying there was no way he could get another good job.

More generally, people in the 70s/80s were not secure in their jobs nor their job prospects.